Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1887-09-29
ON CHANGE.
Spot Cotton Lower; Futures Irregular,
Generally One to Three Points Low.
er-n0ney Market Easy.
Tho Bears Ruled the Koost in the Grain
MISUNDERSTANDING Good-Livs
Stock Transs ctioLs Brisk,
Daily Review.
FORT WORTH, TEX, Sept. IS, 1857.


Wholesale trade was booming to-day
with retail trade fair.
Cotton receipts were again compare
lively light, owing to the bad weather.
Prices range from dose.
Butter and eggs have an upward ten
deacy, the supply being limitedsat pres
ent. Prices will be higher.
THE STATE OF TRADE.
Special teIegr2ms to Bradstreet's from
the more important domestic financial
ce1ters indicate that large snare Of the
reported harm to general trade caused by
tight money has been unfcunded This is
cenciusively shown in q series OF reports
TO Brsds5reet's Of the effect of the strin-
gencY en- general business at the larger
money centerS. There has been some un-
favorable influence e1erted among job
bers and other merchants at New York,
Philadelphia and Boston, due 10 the diff
Guilty in obtaining liberal discounts, and
because Of rates having been sharply ad-
YanCed for best commercial paper. The
loan markets have been quite stiff, end
paper has been scanned much more close
IL than usual at 2 ttsburg, Cincinnati,
Detroit, Chicago, ST Louis, Kansas City,
st. Joseph, ST. Paul and Minneapolis,
but PC actual stringency has been
noted ST those cities, and regular custom
ers Of banks have been protected. But
the inability of the weekly purchase OF
bonds by the Treasury to bring relief at
the east had excited the commercial pub
lie, and talk Of 8 squeeze and possible
panic had stimulated caution among lend
ers TO such degree that some relief was
necessary. This YVES met by the Presi-
dents offer 20 buy S14; 1900, 900 OF 4s and
As, but call loan rates only have become
easier. Mercantile collections west con-
tinue fair and with the increasing crop
movement promise to become easier.
Reports of g heavy cash surplus in the
Nationa! Treasury are not easy so verify.
The official statement of net cash In the
Treasury shows decline, September l.,
OF nearly $50 900, 900 as compared with
the same date year ago, and of about
| So, 900, 00C as compared with the same
date two years ago. Tie apparent de-
crease is mainly due to the inclusion
among the liabilities of nearly $40
| 900 900, in the net reserve of deposits
held for the redemption of retired bank
note circulation, more than was so held
one year sgo, and more than S60,000,0 0C
N excess as compared with two years
ago. Taking into consideration disburs-
| ing officers accounts and few smaller
items of the same class, the actual in
crease of cash in the Treasury over one
year ago is but SIS, 900, 900, and over two
years ago but about 100000.
increased approximations regarding
money produced serious decentralization
in the New York stock market, which
was, however, checked by the change il
the Treasury's policy, though trading i.
dull and speculation unsettled Govern
meut bonds sre quiet and quotation:
fractionally above the government offer
The money market is sensitive and lend
ers continue conservative. Time loan:
are practically 10 easier and com
merCial paper is high, though the
disposition 10 purchase has improved
Money on call is easier at 4(a ) per cent,
bond purchasers having brought NOR
money into Wall street. Total purchase
Of bonds under the new circular to Frids,
evening are S5,007, 80 offerings OF
Friday were smaller than expected
Foreign exchange is weak on sales 0
bills against securities purchased b.
foreign bu7erS.
The decline in stocks Of visible whea
stipat and ashore, unisvcrable weathe
reports northwest and stronger cable
served TO stimulate prices OF whee
some Bradstreet's.